Sweden Industry July 2017

Sweden: Industrial production decreased in July

September 6, 2017

In contrast to June’s increase, industrial production contracted a seasonally-adjusted 0.9% over the previous month in July (June: +0.9% month-on-month; previously reported: +0.8% mom), according to preliminary figures. Statistics Sweden (SCB) reported that the contraction can be explained by significantly decreased production in the electronics and chemicals and pharmaceutical products sectors, offsetting robust production increases in the textile and leather products and fabricated metal products sectors.

A year-on-year comparison showed that industrial production expanded at a slower pace in July than in the previous month. Output growth slowed from a revised 8.9% expansion in June (previously reported: +8.5% year-on-year) to a 5.3% increase in July. Annual average growth in industrial production slowed from 2.8% in June (previously reported: +2.7%) to 2.7% in July.

FocusEconomics Consensus Forecast panelists project that industrial production will increase 3.7% in 2017, which is up 0.5 percentage points from last month’s forecast. For 2018, the panel expects that industrial production will increase 2.2%.

Author:Jan Lammersen, Economist

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Total industrial production excluding energy rose a seasonally-adjusted 0.8% in December over the previous month according to Statistics Sweden (SCB), down from November’s revised 1.0% increase (previously reported: +0.9% month-on-month).

Total industrial production excluding energy rose a seasonally-adjusted 0.9% in November over the previous month according to Statistics Sweden (SCB), down from October’s revised 2.0% rise (previously reported: +1.9% month-on-month).